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Wondr Gaming Plans to Acquire Gen Z Social Gaming Network Gamelancer.

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Vincent

MANews-(C)2009-2021

Canada-based entertainment company Wondr Gaming Corp. (CSE: WDR) (CSE: WDR.WT) has recently entered a non-binding letter of intent with Gen Z social gaming network Gamelancer, Inc. to acquire all of the issued and outstanding securities of Gamelancer in exchange for USD 10m of cash, the company said.

Of the price, USD 7.5m is payable on closing and a further USD 2.5m is payable one year from the date of closing. An issuance of common shares of Wondr represents 49% of the company on a post-transaction basis.

Each party is conducting its respective due diligence and the contemplated transaction remains subject to approval by the board of directors of each party and regulatory approval.

Subject to the completion of each company's due diligence to its sole satisfaction, the parties will negotiate and proceed to enter into a definitive agreement outlining the terms and structure of the transaction.

The final transaction structure will be determined after each party has had the opportunity to receive legal, accounting and tax.

Wondr Gaming Corp, a publicly traded entertainment company on the Canadian...

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